P.E.I. gas prices drop 1.6 cents per litre

People travellingCanada Day will get a boost as fuel prices on the Island dropped shortly after midnight on Saturday.

In the Island Regulatory and Appeals Commission latest petroleum decisions, gasoline dropped by 1.6 cents per litre. Furnace and stove oil decreased by one cent per litre.

As well, diesel prices dropped by one cent per litre,Superior Propane and Irving Energy Distribution and Marketing both decreased by 0.4 cents per litre and Kenmac Energy Inc. dropped by 0.6 cents per litre.

• Fuel prices drop in mid-month price review

With the price adjustments, including adjustments for taxes, the price at the pumps for regular unleaded gasoline at self-serve outlets now range from 101.2 to 102.4 cents per litre.

Propane (before taxes) ranges from 70.3 to 71 cents per litre while furnace oil sits at a maximum price of 69.4 cents per litre (plus tax).

The commission says the price adjustments are the result of reductions in the wholesale price of fuel in the past two weeks.

The next price adjustment will be on July 15.

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